California State Teachers Retirement System Has $67.16 Million Position in Kinder Morgan Inc (KMI)
California State Teachers Retirement System reduced its position in shares of Kinder Morgan Inc (NYSE:KMI) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,501,570 shares of the pipeline company’s stock after selling 277,352 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Kinder Morgan worth $67,160,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Macquarie Group Ltd. increased its holdings in Kinder Morgan by 1.1% in the third quarter. Macquarie Group Ltd. now owns 6,676,184 shares of the pipeline company’s stock valued at $128,049,000 after buying an additional 71,980 shares in the last quarter. CI Investments Inc. grew its position in shares of Kinder Morgan by 32.6% in the third quarter. CI Investments Inc. now owns 4,555,724 shares of the pipeline company’s stock valued at $87,379,000 after purchasing an additional 1,119,021 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Kinder Morgan by 47.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock valued at $6,832,000 after purchasing an additional 114,124 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Kinder Morgan by 31.1% in the second quarter. Principal Financial Group Inc. now owns 5,071,934 shares of the pipeline company’s stock valued at $97,179,000 after purchasing an additional 1,201,722 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $1,078,000. 60.88% of the stock is owned by hedge funds and other institutional investors.
KMI has been the topic of several research reports. Royal Bank of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of Kinder Morgan in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley reiterated an “overweight” rating on shares of Kinder Morgan in a research report on Tuesday, September 5th. Stifel Nicolaus set a $25.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, BidaskClub lowered shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Kinder Morgan has a consensus rating of “Hold” and a consensus target price of $22.97.
Shares of Kinder Morgan Inc (KMI) traded up $0.06 during midday trading on Thursday, reaching $17.91. 3,146,656 shares of the company were exchanged, compared to its average volume of 11,633,114. Kinder Morgan Inc has a 1 year low of $16.68 and a 1 year high of $23.01. The firm has a market capitalization of $39,640.01, a price-to-earnings ratio of 27.31, a P/E/G ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the business earned ($0.10) earnings per share. Kinder Morgan’s revenue was down 1.5% compared to the same quarter last year. analysts anticipate that Kinder Morgan Inc will post 0.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st were given a dividend of $0.125 per share. The ex-dividend date was Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.79%. Kinder Morgan’s dividend payout ratio (DPR) is currently 89.29%.
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Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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